Tesla (TSLA) European Demand Remains Steady - Wedbush

Wedbush analyst Daniel Ives reiterated a Neutral rating and $220.00 price target on Tesla (NASDAQ: TSLA) but sees Model 3 demand in Europe steady at this point in 3Q. This has been a point of investor focus and should help neutralize some weakness seen out of China.

The analyst stated "We expect a stream of cargo ships to hit Zeebrugge over the coming weeks as the flagship Model 3 is delivered to customers throughout Europe. To this point, we continue to believe based on our field work that one of the epicenters of demand is in Norway for Model 3 with overall EV sales growing in the country by 40%+ and a strong ramp expected over the next few quarters with Tesla leading the charge. Norway, the Netherlands, and Germany are front and center as the countries with good pent up demand so far for Model 3’s in Europe with orders/lease driven demand being filled over the next month in the region".

For an analyst ratings summary and ratings history on Tesla click here. For more ratings news on Tesla click here.

Shares of Tesla closed at $218.33 yesterday.

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